U.K. authorities planning high-speed rail network
The UK government has today issued plans for a £30 billion high-speed rail link in the UK with work set to begin in the autumn. This will provide the UK with the fastest rail network in Europe and create up to 10,000 jobs over the lifetime of the project. The program will be completed in various phases with the first being a link between London and Birmingham due to open by 2026 at a cost of up to £17.4 billion.
Upon completion of the initial phase of the programme the network will be extended to take in Manchester, Sheffield, Leeds, Newcastle and Edinburgh cutting journey times between London and Birmingham to anything from 50 minutes to 30 minutes. While the proposed £30 billion investment has already received its fair share of criticism with various groups already coming out against the move, there is no doubt it will help the UK economy in the long term.
It is unfortunate to see the proposed £30 billion investment program receiving such criticism in its early days when many people have criticised a lack of foresight by previous UK governments with regards to transport and internal investment. Whether these protests will derail the network remains to be seen but there is no doubt it would be highly beneficial to the UK economy as a whole.
Share this..
Related stories
Experts disappointed by Chancellor's economic forecast
While yesterday Alistair Darling had one of the most difficult tasks in the Labour government there are many who believe he failed to grasp the seriousness of the UK economic downturn. His admission that the UK economy would fall by a further 3.5% this year was in line with many economic forecasts but his expected return to growth of 1.25% next year and 3.5% in 2011 is optimistic in the extreme ac...
Read MoreBank of England Forecasts Zero Economic Growth
The UK has been given more bad news from the Bank of England (BoE), after zero growth was forecast for the remainder of 2012. This means that 5 years on from the beginning of the global economic crisis, the double-dip recession being experienced by the UK is showing no signs of recovery. Earlier in 2012 there was hope after the BoE forecast economic growth of 0.8pc before the end of the year, b...
Read MoreOECD expects UK interest rates to rise 3.5%
The OECD has issued a very challenging report about the UK economy and the "threat of inflation" which is causing concern amongst UK investors and analysts. The OECD believes that UK base rates will need to rise from 0.5% at the moment to 3.5% by the end of 2011 to combat the threat of inflation which has increased significantly over the last few months. This summary of the UK economy would appear...
Read MorePolitical fallout set to hit Scottish economy
Despite attempts today by the SNP to try and defuse the Lockerbie bomber issue it seems as though various US threats to boycott Scottish goods and Scottish services are to go ahead. Even though many people believed the campaign against Scotland, after the freeing of the Lockerbie bomber, would quieten down and become something of a non-event, the political fury in the US is still building, days af...
Read MoreIs this the end of the fight for Scottish independence?
When the SNP was voted into the Scottish parliament as the leading party in the country there were immediate concerns that the group would push for Scottish independence in the short to medium term. These concerns were not without foundation and as soon as the government had found its feet the subject of Scottish independence was pushed very much to the fore. But has the recent economic downturn q...
Read More